The winner of insurtech innovation of the year is Pibit.AI, which looks to overhaul commercial underwriting for carriers and managing general agents (MGAs). The firm is in production with 40 US carriers and MGAs.

The firm's product, Centralised Underwriting Risk Environment (CURE), is a platform fuelled by agentic underwriting services that converts raw submissions into decision-ready outcomes. By automating intake, triage, and data enrichment from both internal documents and external sources, Pibit.AI provides risk insights that allow insurers to win the right accounts faster.

Key to the firm winning insurtech innovation of the year was its work in addressing the industry's most-persistent bottlenecks while providing measurable results. While manual document handling can consume nearly 40% of an underwriter's day, the firm says it can speed up the underwriting cycle by 85%. It can also deliver up to a 700-basis points improvement in loss ratios through disciplined risk selection and pattern detection.

Unlike 'black-box' systems, Pibit.AI prioritises explainable AI, where every risk signal and data point is linked to source evidence. This allows teams to transition from clerical data entry to high-value strategic judgment. Finally, its modular, plug-and-play architecture allows carriers to modernise quickly, achieving operational value in as little as 30 days.